NGX Bears hold sway… ASI down 0.4%

Today, the NGX-ASI declined 0.4% to close at 52,756.62 points following selloffs in MTNN (-1.7%), FLOURMILL (-9.2%), and ZENITH (-1.0%). Accordingly, YTD return trimmed to 23.5% (previously 23.9%) while market capitalisation shed ₦101.1bn to ₦28.4tn. While volume traded advanced 47.7% to 552.5m units, value declined 3.7% to ₦4.8bn.

Across our coverage sectors, performance was bearish as all sectors declined save the Industrial Goods index, up 5bps on uptick in WAPCO (+0.7%). Leading the losers, the AFR-ICT index fell 0.9% on price decline in MTNN (-1.7%). Trailing, the Consumer Goods and Banking indices traded down by 0.5% and 0.4% respectively due to price depreciation in FLOURMILL (-9.2%), DANGSUGAR (-1.7%) and FIDELITY (-2.4%). Likewise, decline in OANDO (-1.9%), ARDOVA (-1.3%), ROYALEX (-5.4%), and AIICO (-1.3%) weighed on the Oil & Gas (-0.3%) and Insurance (-0.2%) indices.

Investor sentiment, as measured by market breadth, weakened to -0.09x from 0.10x as 21 stocks gained, 27 lost while 68 closed flat. In the subsequent session, we anticipate the market would post mild gains on bargain hunting activities.

Market Cap (₦’bn)                                              28,441.61

 Market Cap ($’bn)                                               67.5

NGX All-Share Index                                          52,756.62

Daily Performance %                                          -0.4%

WTD Performance %                                           -0.6%

MTD Performance %                                            6.3%                                   

QTD Performance %                                            12.3%

YTD Performance %                                            23.5%

Daily Volume                                                        552.5

Daily Value (₦’bn)                                                4.8

Daily Value ($’m)                                                  11.3                           

Sectoral Indices Performance                                

NGX 30                                                                 -0.4%

NGX BANKING INDEX                                      -0.4%                                      

NGX INSURANCE INDEX                                 -0.2%                          

NGX CONSUMER GOODS INDEX                   -0.5%                  

NGX OIL/GAS                                                      -0.3%                                      

NGX LII                                                                 -0.6%                                                   

NGX INDUSTRIAL GOODS INDEX                   0.0%                   

NGX-AseM                                                             0.0%